We have started receiving questions from interested property owners about our management program. We are sure you have questions too and we want to remain as transparent as possible so that you know exactly what type of business relationship we hope to develop with you. We may have answered some of these questions throughout our website, but too much info is better than not enough info. With that being said, here are the FAQ’s.
Q: Are you licensed to manage individual condominiums in the state of Florida?
A: Yes, we are licensed to manage individual condos in the state of Florida. We have a Collective Resort Condo license under the provisions of Chapter 509 FS issued by the Department of Business and Professional Regulations Hotels and Food Services Division that allows us to manage short term transient rental condominiums without having to work under Florida State Statutes 475 requiring that we be licensed Real Estate Brokers. As a result, each property that we manage must be licensed under our license or each condo owner must possess their own license to rent their unit out.
Q: When you have time could you please explain your management fees?
A: 25% commission on rental income only. Example, if it rents for $1500, we take our commission on $1500 only. We have worked with groups that took commission on sales tax, damage deposit, cleaning fees, revenue, etc, resulting in a higher overall commission and less net pay to the owner. We will not charge credit card fees, reservation fees, or any other fee. We only charge 25% of rental income.
Q: How do you handle the cleaning fees?
A: The cleaning fees are charged to the vacation renter and then we pay the fees directly to our cleaning service that we have contracted with. You will never have to keep up with cleaning fee payments.
Q: Would you be doing the accounting and filing of taxes for owners?
A: We will collect all area taxes and cleaning fee from renters and will file and pay these for you. We are set up with the State of Florida and have our sales tax certificate. At the end of the year, we will send you a 1099. We will also prepare and send to you monthly statements explaining your revenue check. Year to date statements can be provided upon request.
Q: How do you handle rotations? In other words, how do you choose who gets first bookings?
A: Blue Sun Properties does not place the units we manage on a rotation like many larger management companies do. With some companies, if you use your condo for your family, then your condo goes to the bottom of the list for rentals. We leave the selection process up the the individual vacationer and try to fill their needs with our “available” inventory. If what they are looking for is not available, we will make suggestions to them with our remaining available units and let the customer decide. The customers will then select the unit they want based on many things like price, layout, floor, etc.
We will update these FAQ’s as we receive questions from interested owners. If you have questions you would like for us to answer, please use our Owners Contact Form and we will answer your questions usually within the same day.
You can also call us at 270-836-9736 or 270-836-7206.